Name of the Project
Finniss lithium project.

Location
The project is located near Darwin, in the Northern Territory, Australia.

Project Owner/s
Core Lithium.

Project Description
A definitive feasibility study (DFS) has confirmed that Core is well positioned to be the next lithium producer in Australia.

The DFS has focused on the development of the ore reserves in the Grants and BP33 orebodies over an initial 3.5-year period.

The project comprises a low-risk, openpit mining operation and the construction of a one-million-tonne-a-year dense-medium separation plant to produce up to 180 000 t/y of high-quality lithium concentrate with robust margins.

Scheduled production is estimated at 481 018 t of concentrate.

Potential Job Creation
The first three years of the project are expected to create about 200 jobs.

Net Present Value/Internal Rate of Return
The project has a high pretax nominal net present value of A$114-million and an internal rate of return of 80%, with a payback of 1.5 years.

Capital Expenditure
The project is estimated at A$73-million, including preproduction capital costs for grants.

Planned Start/End Date
Construction is planned to start in the second half of 2019, ramping up to commercial production in the first half of 2020.

Latest Developments
Core Lithium has signed a nonbinding memorandum of understanding (MoU) with potential offtake partner Xinfeng for between 20 000 t/y and 30 000 t/y of offtake from the Finniss lithium project.

The termsheet with Xinfeng paves the way for a binding offtake agreement, and also holds the potential for project finance, subject to due diligence by Xinfeng and a final investment decision on the Finniss project.

The potential new offtake agreement supplements Core’s existing binding offtake agreement with Yahua for 75 000 t/y, and a nonbinding MoU with Transamine Trading for 50 000 t/y. The offtake agreements represent about 85% of the planned production capacity of 175 000 t/y.

Core is aiming to complete offtake arrangements and have the project construction ready in 2020, ahead of sourcing debt and equity to achieve financial close.

Key Contracts and Suppliers
None stated.

Contact Details for Project Information
Core Lithium, tel +61 8 8317 1700 or email info@corelithium.com.au.